Hsbc Holdings PLC Sells 10,130 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Hsbc Holdings PLC decreased its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP – Get Rating) by 58.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 7,221 shares of the semiconductor company’s stock after selling 10,130 shares during the period. Hsbc Holdings PLC’s holdings in IPG Photonics were worth $619,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in IPGP. Federated Hermes Inc. raised its position in shares of IPG Photonics by 203.5% during the 2nd quarter. Federated Hermes Inc. now owns 831,446 shares of the semiconductor company’s stock valued at $78,264,000 after acquiring an additional 557,497 shares during the last quarter. Lazard Asset Management LLC grew its holdings in shares of IPG Photonics by 60.5% in the 2nd quarter. Lazard Asset Management LLC now owns 1,103,388 shares of the semiconductor company’s stock valued at $103,861,000 after buying an additional 415,842 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of IPG Photonics by 54.4% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 892,900 shares of the semiconductor company’s stock valued at $84,049,000 after buying an additional 314,600 shares during the period. Invesco Ltd. grew its holdings in shares of IPG Photonics by 18.9% in the 1st quarter. Invesco Ltd. now owns 1,701,795 shares of the semiconductor company’s stock valued at $186,788,000 after buying an additional 270,190 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in shares of IPG Photonics by 137.3% in the 1st quarter. Renaissance Technologies LLC now owns 385,300 shares of the semiconductor company’s stock valued at $42,291,000 after buying an additional 222,900 shares during the period. Institutional investors own 63.50% of the company’s stock.

IPG Photonics Price Performance

IPG Photonics stock opened at $127.12 on Friday. The firm has a 50-day moving average of $112.11 and a 200-day moving average of $97.73. IPG Photonics Co. has a one year low of $79.88 and a one year high of $134.81. The company has a market cap of $6.05 billion, a price-to-earnings ratio of 64.53, a P/E/G ratio of 5.77 and a beta of 1.23.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Sanford C. Bernstein boosted their price target on shares of IPG Photonics from $100.00 to $124.00 and gave the company a “market perform” rating in a report on Thursday, February 16th. DA Davidson reaffirmed a “buy” rating on shares of IPG Photonics in a research note on Tuesday, January 3rd. Stifel Nicolaus upped their target price on shares of IPG Photonics from $110.00 to $145.00 in a research note on Wednesday, February 15th. Benchmark upped their target price on shares of IPG Photonics from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, February 15th. Finally, Citigroup upped their target price on shares of IPG Photonics from $115.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, February 16th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $137.80.

About IPG Photonics

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IPG Photonics Corp. engages in the design, development, production and distribution of fiber lasers, laser systems, fiber amplifiers, and related optical components. Its products include lasers, beam delivery, medical, telecom equipment, product finder and components such as pump diodes, chillers, and mid-IR crystals.